Top US banks offer great incentives to attract crypto talent

Top US-based banks and financial institutions have filled over 1,000 positions for crypto professionals in the past three years.

1 report from Bloomberg offers financial institutions significant bonuses to attract crypto talent, with recruitment consultant Johnson Associates estimating that crypto positions pay 20 to 30% higher salaries than non-cryptocurrency-related positions.

The company added that many senior crypto positions will benefit from a salary increase of up to 50% over comparable positions, with CEO Alan Johnson concluding:

“Banks cannot take the risk that their customers will go to another bank to provide these services, so they have to build.”

Research firm Revelio Labs analyzed 287 crypto-related proposals from Goldman Sachs, Wells Fargo, Fidelity and JPMorgan Chase – the four largest recruiters for digital assets on the professional social networking site LinkedIn. Revelio concluded that crypto experts enjoy an average salary increase of 9% compared to their bank counterparts.

In October, LinkedIn reported that site-wide vacancies for crypto and blockchain-related positions have increased 615% since August 2020.

Related: Amazon’s job posting suggests that the company’s web services are preparing for the launch of cryptocurrency

Bank of America set up its own crypto research team in July, with Alkesh Shah telling the department, “The industry and technology have gotten too big to ignore.”

Morgan Stanley also launched a crypto research group in September, which further signals that leading US banks are looking for crypto talent.

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